Plenty of land comes to market, but ‘oven ready’ plots that support your version of the self-build dream can be as rare as hen’s teeth. Therefore, good plots sell fast, and sometimes at inflated prices.
Buying land isn’t the same as buying a house, where you can easily value what you’re getting and instruct solicitors to get the deal done. When it comes to buying building land, the risks are arguably greater and you must be certain planning permission will be granted for what you want to build.
Aside from this small matter, there are also construction costs you have to consider, not to mention the need to make sure you’re not paying too much for the plot.
The chances of something going wrong when buying a building plot can be quite high, and therefore the land-buying process must deal with the associated risks before they become painful realities.
So before setting off on your search for land to build on, it’s important that you understand the dynamics of the land-buying market that can make it difficult to find and secure a building plot for your new home. As such, here are the some of the main issues that you may have to overcome on your search.
A competitive market
The British public has an insatiable appetite for self-building and considering there’s only around 10,000 to 15,000 plots built out each year, that’s a lot of competition for relatively few plots.
